Notes, bills of exchange, drafts, or any negotiable paper, given by those engaged in the actual purchase or sale of goods, such as a dry goods merchant, for instance. A note given by a street railway company would not be considered " mercantile paper." All the above, however comes under the general term of " commercial paper."

Merchandising Customers' Accounts. This is a plan adopted by some of the large department stores which, in general, permits a customer to deposit any sum of money with the store, which money draws interest at, say, 4% per annum for every day it is on deposit. In some cases, interest is compounded every three months. The customer may withdraw, by check, all or any part of this money at any time, but the main object is that it permits the customer to purchase goods to a value not exceeding the amount which he has on deposit, such purchases being charged against money to his credit. Stores doing this sort of business claim to be able to sell goods at a lower price than would be the case if credit were given. From the customer's standpoint it permits him to buy goods without paying cash each time, and it is especially helpful if he makes purchases from a distance.